Progenity, Inc. (PROG) Q2 2021 Earnings Conference Call August 12, 2021 4:30 PM ET Company Participants Robert Uhl - Managing Director Harry Stylli - Chairman and Chief Executive Officer Eric d'Esparbes - Chief Financial Officer Conference Call Participants Steven Mah - Piper Sandler Catherine Schulte - Baird Andrew Cooper - Raymond James Operator Welcome to the Progenity Second Quarter 2021 Earnings Call. [Operator Instructions] I will now turn the call over to Robert Uhl, Managing Director with Westwi ...

SECOND QUARTER 2021 – FINANCIAL RESULTS August 2021 FORWARD-LOOKING STATEMENTS This presentation contains "forward-looking statements" within the meaning of the federal securities laws, which statements are subject to substantial risks and uncertainties and are based on estimates and assumptions. All statements, other than statements of historical facts included in this presentation, including statements concerning our plans, objectives, goals, strategies, future events, future revenues or performance, fina ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, par value $0.001 per share PROG The Nasdaq Global Market FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File ...

| --- | --- | --- | --- | --- | --- | --- | --- | |-------|-------|-------|-------|-------|--------------------------------------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | First Quarter 2021 Financial Results | | | | | | | | | May 13, 2021 | | | 2 ©2021 Progenity, Inc. All rights reserved. 2 Forward Looking Statements This presentation contains "forward-looking statements" within the meaning of the federal securities laws, which statements are subject to substantial ...

Financial Data and Key Metrics Changes - The company reported $25 million in revenues for Q1 2021, representing a 72% growth quarter-over-quarter and a 46% growth compared to Q1 2020 [55][48][56] - Average selling prices (ASPs) improved during the quarter, contributing to revenue growth [56][55] - The net loss for Q1 2021 was $32.3 million, which included $14.8 million of income from changes in fair value related to convertible notes [63][55] Business Line Data and Key Metrics Changes - The core molecular testing business achieved a revenue growth of 72% quarter-over-quarter, driven by improvements in ASPs and revenue cycle management [48][55] - The Preecludia test is expected to launch by Q4 2021, targeting a multi-billion dollar market opportunity [19][18] - The GI Precision Medicine pipeline is advancing, with significant progress in drug delivery systems and targeted therapeutics [21][20] Market Data and Key Metrics Changes - The company identified a $2 billion to $3 billion opportunity for the Preecludia test based on payer research indicating an understanding of the economic burden of preeclampsia [19][18] - The inflammatory bowel disease (IBD) market is estimated at $15 billion, with the company targeting this market with its drug delivery systems [23][21] Company Strategy and Development Direction - The company plans to focus on strategic biotech areas with high value generation potential, particularly in GI Precision Medicine and preeclampsia programs [7][8] - The strategy includes transforming established drugs with known efficacy and safety profiles to enhance treatment for GI localized diseases [34][33] - The company aims to achieve breakeven and profitability for its core business by the end of 2022 or early 2023 [61][66] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, citing catalysts such as the Preecludia validation study results and ongoing advancements in GI programs [66][66] - The company is focused on generating non-dilutive capital and reducing cash burn while maintaining appropriate funding for key R&D programs [61][66] Other Important Information - The company completed a private placement raising $25 million in gross proceeds, ending Q1 2021 with a cash balance of $65 million [65][63] - The company is on track to initiate a clinical pilot study for its PIL Dx program in the second half of the year [41][42] Q&A Session Summary Question: Can you provide details on core women's health volumes? - Management indicated that volumes were generally flat due to weather-related demand dynamics and ongoing sales channel transitions [70][69] Question: Can you elaborate on the Crohn's & Colitis funding? - The funding is a cost-sharing arrangement aimed at supporting studies for the drug delivery system (DDS) development [71][70] Question: What is the latest on Innatal 4 development? - The next catalyst for Innatal 4 is expected in Q3, with commercialization anticipated by the end of Q2 or beginning of Q3 next year [73][72] Question: What factors influenced gross margin and cost of goods? - The increase in Q1 COGS was attributed to stock-based compensation accruals, while COGS per test remained stable [76][75] Question: What is the status of the Preecludia sales force preparation? - The sales force is being trained and prepared for a targeted launch, with no significant ramp-up needed as existing capabilities are sufficient [83][82]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, par value $0.001 per share PROG The Nasdaq Global Market FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE A ...

progenity® 1 ©2020 Progenity, Inc. All rights reserved. 1 Business Update and Fourth Quarter and FY 2020 Financial Results March 18, 2021 2 ©2020 Progenity, Inc. All rights reserved. 2 Forward Looking Statements This presentation contains "forward-looking statements" within the meaning of the federal securities laws, which statements are subject to substantial risks and uncertainties and are based on estimates and assumptions. All statements, other than statements of historical facts included in this presen ...

Progenity, Inc. (PROG) Q4 2020 Results Conference Call March 18, 2021 4:30 PM ET Company Participants Robert Uhl - Managing Director, Westwicke ICR Dr. Harry Stylli - Chairman and CEO Eric d’Esparbes - CFO Conference Call Participants Steven Mah - Piper Sandler Catherine Schulte - Baird Sung Ji Nam - BTIG Andrew Cooper - Raymond James Dan Leonard - Wells Fargo Operator Welcome to the Progenity’s Fourth Quarter 2020 Earnings Call. At this time, all participants are in a listen-only mode. After the speaker pr ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 001-39334 PROGENITY, INC. (Exact name of Registrant as specified in its Charter) Delaware (State or other jurisdiction of incorporation o ...

1 © 2021 Progenity, Inc. All rights reserved. CORPORATE PRESENTATION February 2021 FORWARD-LOOKING STATEMENTS This presentation contains "forward-looking statements" within the meaning of the federal securities laws, which statements are subject to substantial risks and uncertainties and are based on estimates and assumptions. All statements, other than statements of historical facts included in this presentation, including statements concerning our plans, objectives, goals, strategies, future events, futur ...